Luxor Industrial Corp. V.LRL

RE:RE:RE:RE:Luxor Reports Sales of $19,902,837

[sparta05]

billy4325 wrote: Is the 1.6% gross margin for Q3 explained? ($124,102 on $7,811,014 of sales).  I find this very concerning, but don't see the reasoning for it explained.

"The Gross Margin on the turnkey framing business was approximately 10%. This is the result of an aggressive approach in entering a new geographic market, the Western United States. As expected in a new business, there were inefficiencies in material procurement, prefabricated product manufacturing and procurement of labor, which have been addressed. There has been important improvement in these areas and the Company is focused on significantly growing the Gross Margin in 2017." 

I interpret this to mean the 10% fell to 1.6% due to unexpected inefficiencies? Anyone have any thoughts? If what they say is true.. 2017 will be a much better year.. I own a boat load of LRL and have high hopes for this company.